France has warned against any immediate move to redraw the balance of power inside the Renault-Nissan alliance after Carlos Ghosn was ousted as Nissan chairman in 2018.
An official in President Emmanuel Macron’s office said the French side had told Japan that it was not the moment to consider changes in ownership or influence within the partnership. The official described the financial misconduct allegations against Ghosn as “precise”.
Nissan’s board voted unanimously to remove Ghosn after his surprise arrest in Japan, a move that intensified uncertainty around an alliance already marked by tension over which company held the stronger hand.
“We have been very clear: now is certainly not the time for any changes in the capital of one part of the alliance or another, for Nissan to increase its stake in Renault for example,” the official said.
“And they have told us this is not their intention.”
The official said there could still be room for later discussions about the structure of the alliance, but not at that stage.
France owns 15 percent of Renault, while Renault holds 43.4 percent of Nissan. Nissan owns a non-voting 15 percent stake in Renault and 34 percent of Mitsubishi Motors.
Ghosn had been the central figure behind the three-way arrangement and had pushed for a deeper tie-up, including a possible full merger of Renault and Nissan, despite resistance inside the Japanese company.
The French official said France had not fully appreciated the mistrust building inside Nissan, but rejected suggestions that the arrest formed part of a conspiracy.
“The accusations are extreme, certainly, but they are also precise,” the official said.
“We know there’s a flourishing conspiracy theory about all this, but that’s really not our current thinking.”
